Featuring: Murray Gunn

Murray Gunn

After earning his Master of Arts Degree in economics, Murray went straight into fund management in 1991. He quickly realized the textbook descriptions don't apply to real-world markets, which in turn led him to technical analysis and the Elliott Wave Principle. He worked for several firms as a fund manager in global bonds, currencies and stocks, including long posts at Standard Life Investments and the Abu Dhabi Investment Authority. Murray then joined HSBC Bank as Head of Technical Analysis. A published author (Trading Regime Analysis), he has served on the board of the Society of Technical Analysts (UK), and delivered lectures on the Elliott Wave Principle to students at Queen Mary University and Kings College London. Watch for Murray's commentary on deflation.com and in Elliott Wave International's publications Global Market Perspective, Interest Rates Pro Service and Currency Pro Service.


In Australia, the “Never Never” is an old term used to describe the remote, desert outback, especially the sparsely populated part of the Northern Territory and Queensland. Perhaps related to this, British soldiers stationed there used the term “on the never” to refer to gaining something at no cost to oneself or to get something […]

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In Chapter 9 of Conquer the Crash, Robert Prechter identifies the primary precondition of deflation as “a major societal buildup in the extension of credit (and its flip side, the assumption of debt).” He cites a 1957 letter from the founder of the Bank Credit Analyst and Elliott wave expert, Hamilton Bolton, who, on studying […]

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In 1939, Sir Winston Churchill said that Russia was “… a riddle wrapped in a mystery inside an enigma”. The same could be said of China today. In many respects China is a land of contradictions, led by its curious blend of communism and capitalism; the latest money and credit supply figures highlight the point. […]

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Amazon’s headline grabbing June 16th takeover of Whole Foods has been seen by many commentators as a sure sign that grocery prices will be lowered when the economies of scale efficiencies that Amazon brings with online shopping and distribution start to kick in. Moreover, the supermarket company Kroger cut its earnings forecasts on June 15th, […]

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“Turnover is vanity, profit is sanity, but cash is king”                                          – Bankers mantra Fifty years ago this month, the world’s first cash dispenser was installed in Enfield, North London. In a 13 June speech to commemorate this anniversary, Victoria Cleland, Chief Cashier and Director of Notes at the Bank of England, made some interesting […]

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Inflation is an expansion in the total supply of money and credit, and deflation is a contraction in the total supply of money and credit. This differs from price inflation and deflation which is what orthodox economic analysis concentrates on. There is a link though, and we shall be examining that in subsequent columns. This […]

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